Clashes reported in Tehran as police target money-changers

A firefighter extinguishes a motorcycle set ablaze Wednesday in Tehran in this photo that was taken by an onlooker and obtained by the Associated Press.

A firefighter extinguishes a motorcycle set ablaze Wednesday in...

TEHRAN, Iran - Clashes and at least one spontaneous protest erupted here Wednesday over the plunging value of Iran's rial, as black-market money-changers fought with riot police who were sent to shut them down, and hundreds of angry citizens demonstrated near the capital's sprawling bazaar, where many shops had closed for the day. The official media reported a number of arrests, including two Europeans.

It was the first instance of a violent intervention over the money-changing business in Tehran since the national currency dropped drastically over the past week, losing 40 percent of its worth against the dollar.

Anger in marketplace

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Economists blame the plunge on government mismanagement and the Western sanctions over Iran's nuclear program.

Witnesses described cat-and-mouse chases between riot police armed with tear gas and batons, and money changers and their customers, who were forced to scatter.

But anger over the rial's plunge spread to Tehran's grand bazaar, where many merchants closed their stores and hundreds of shoppers joined in what appeared to be a spontaneous protest, accusing the government of failing to protect their currency from collapse.

"They spend billions of dollars to keep Syrian President Bashar Assad in power, but now they say they have no money!" one garment merchant screamed, cheered on by others, witnesses said.

Videos - real and fake

A team from Iran's state television was nearly attacked when its reporter said on camera that the people behind him had been upset over a robbery.

Abdullah, a young man selling textiles, complained that the rial's volatility has made doing business very difficult.

"The checks our customers give us bounce; we don't know what prices will be tomorrow," Abdullah said. "How can we earn a living?"

A video uploaded on YouTube that witnesses verified as genuine showed hundreds of demonstrators near the bazaar. But other videos, apparently uploaded by Iran's underground and exiled opposition to exploit the moment, appeared to be fake, blending clips from Wednesday with old footage from the anti-government protests following the disputed 2009 election.

The semiofficial Mehr news agency reported that several people were arrested at the bazaar, including two Europeans disguised as tourists who were "collecting intelligence." They were not further identified.